The housing fund was up 36.2% year to date as of June 28, versus a 6.8% gain for the S&P 500, according to Morningstar. The ETF competes with SPDR S&P Homebuilders (NYSEArca: XHB).

Homebuilder stocks peaked in 2005 before the subprime crunch and housing meltdown.

ITB, the builder ETF, has broken out to its highest point since late 2008.

iShares Dow Jones US Home Construction

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